1
answer
0
watching
99
views
28 Sep 2019
An oligopoly producing a homogeneous product is comprised ofthree firms that act like a cartel. Assume that these three firmshave identical cost schedules. Assume also that if any one of thesefirms sets a price for the product, the other two firms charge thesame price. As long as they all charge the same price they willshare the market equally; and the quantity demanded of each will bethe same. Below are the total-cost schedule of one of these firms andthe demand schedule that confronts it when the other firms chargethe same price as this firm. Complete the marginal-cost andmarginal-revenue schedules facing the firm. Output Total Cost
Marginal Cost
Price
Quantity Demanded
Marginal Revenue
0
$ 0
1
180
$_____
$ 780
1
$_____
2
300
720
2
3
180
660
3
4 720 600 4
5 1020 540 5
6 1380 480 6
7
1800
420
7
8 2280 360 8
Thank You
An oligopoly producing a homogeneous product is comprised ofthree firms that act like a cartel. Assume that these three firmshave identical cost schedules. Assume also that if any one of thesefirms sets a price for the product, the other two firms charge thesame price. As long as they all charge the same price they willshare the market equally; and the quantity demanded of each will bethe same.
Below are the total-cost schedule of one of these firms andthe demand schedule that confronts it when the other firms chargethe same price as this firm. Complete the marginal-cost andmarginal-revenue schedules facing the firm.
| Output | Total Cost | Marginal Cost | Price | Quantity Demanded | Marginal Revenue |
| 0 | $ 0 | ||||
| 1 | 180 | $_____ | $ 780 | 1 | $_____ |
| 2 | 300 | 720 | 2 | ||
| 3 | 180 | 660 | 3 | ||
| 4 | 720 | 600 | 4 | ||
| 5 | 1020 | 540 | 5 | ||
| 6 | 1380 | 480 | 6 | ||
| 7 | 1800 | 420 | 7 | ||
| 8 | 2280 | 360 | 8 |
Thank You
manhokwe tawandaLv10
29 Sep 2019
